Gold and silver prices opened sharply lower on the Multi-Commodity Exchange of India on Friday as oil prices surged back towards $110 per barrel, intensifying inflation concerns and raising expectations that interest rates may stay higher for longer.

Tensions escalated further after Iran released footage of commandos boarding a cargo vessel in the Strait of Hormuz, along with reports that its air defence systems had engaged what were described as “hostile targets.”

In the domestic market, MCX silver futures for May 2026 delivery fell Rs 2,300 or 1%, to Rs 2,39,200 per kg. Gold futures for June 2026 delivery declined Rs 600 or 0.4% to 1,51,159 per 10 grams. In the previous session, silver and gold ended higher by 0.25% each.

Rising crude oil prices tend to fuel inflation by increasing transportation and production costs, which in turn raises the likelihood of higher interest rates. Although gold is traditionally seen as a hedge against inflation, higher interest rates reduce its appeal by making yield-bearing assets more attractive.

Globally, yellow metal was little changed on Friday but remained on course for a weekly decline. Spot gold edged up 0.1% to $4,697 per ounce as of 0105 GMT, though it has fallen 2.6% so far this week, snapping a four-week winning streak. U.S. gold futures for June delivery slipped 0.2% to $4,712.50. Spot silver also eased 0.1% to $75.36 per ounce.

How should you trade gold?

Manoj Kumar Jain of Prithvi Finmart said gold and silver are likely to remain volatile in today’s session due to fluctuations in the dollar index, swings in crude oil prices and uncertainty around the US-Iran peace deal.
He sees gold support at $4,681–4,640 and resistance at $4,755–4,790 per troy ounce. Silver has support at $72–68 and resistance at $78–80.40 per troy ounce for the day.
On MCX, gold has support at Rs 1,55,000–1,49,800 and resistance at Rs 1,52,350–1,53,100, while silver has support at Rs 2,38,800–2,34,000 and resistance at Rs 2,45,000–2,48,500.

He advises waiting for stability in bullion markets before taking fresh positions.

Gold rates in physical markets

Gold Price today in Delhi

Standard gold (22 carat) prices in Delhi stand at Rs 1,12,712/8 grams while pure gold (24 carat) prices stand at Rs 1,22,952/8 grams.

Gold Price today in Mumbai

Standard gold (22 carat) prices in Mumbai stand at Rs 1,12,592/8 grams while pure gold (24 carat) prices stand at Rs 1,22,832/8 grams.

Gold Price today in Chennai

Standard gold (22 carat) prices in Chennai stand at Rs 1,13,272/8 grams while pure gold (24carat) prices stand at Rs 1,23,576/8 grams.

Gold Price today in Hyderabad

Standard gold (22 carat) prices in Hyderabad stand at Rs 1,12,592/8 grams while pure gold (24 carat) prices stand at Rs 1,22,832/8 grams.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Roughly 1,400 people across Nike’s Global Operations team will be laid off, the company announced Thursday.

In a memo to employees, Chief Operating Officer Venkatesh Alagirisamy said the cuts will primarily affect Nike’s technology division and span North America, Asia and Europe, representing just under 2% of the company’s global workforce.

“This is not a new direction,” Alagirisamy wrote. “It is the next phase of the work already underway.”

The announcement follows a series of recent job cuts as Nike restructures its operations.

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In January, the company said it would cut 775 jobs as part of an automation push at distribution centers. 

In February 2024, Nike announced plans to reduce its workforce by about 2%, or more than 1,600 employees, and a few months later, in August, said it would cut less than 1% of corporate staff as part of a broader turnaround effort under CEO Elliott Hill.

Shares rose about 0.5% in after-hours trading, though Nike stock has lost more than half its value over the past three years.

According to Alagirisamy’s memo, the layoffs are aimed at streamlining supply chains for materials, footwear and apparel, and centralizing technology operations in two hubs: Beaverton, Oregon, and the Nike India Technology Center.

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Nike also plans to move some Converse manufacturing and engineering operations closer to factory partners.

“These changes are meant to make the company less complex and more responsive,” Alagirisamy said. “As we look ahead, that means simplifying parts of how we operate, using more advanced automation where it helps us work better, and building an even stronger end-to-end foundation for future growth.”

Ticker	Security	Last	Change	Change %
NKE	NIKE INC.	44.78	-0.90	-1.97%

Hill, who became CEO in 2024, has pledged to refocus the Nike brand on core sports, such as running and soccer, while accelerating new product launches.

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Nike forecast a 2% to 4% drop in sales this quarter, with China, a key market, expected to decline about 20%, the company said.

Nike referred FOX Business to Alagirisamy’s memo when asked for comment.

FOX Business’ Eric Revell and Reuters contributed to this report.

Operator

Good day, and welcome to the Enova International First Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded.

I would now like to turn the conference over to Lindsay Savarese, Investor Relations for Enova. Please go ahead.

Lindsay Savarese
Investor Relations

Thank you, operator, and good afternoon, everyone. Enova released results for the first quarter 2026 ended March 31, 2026, this afternoon after market close. If you did not receive a copy of our earnings press release, you may obtain it from the Investor Relations section of our website at ir.enova.com.

With me on today’s call are Steve Cunningham, Chief Executive Officer; and Scott Cornelis, Chief Financial Officer. This call is being webcast and will be archived on the Investor Relations section of our website.

Before I turn the call over to Steve, I’d like to note that today’s discussion will contain forward-looking statements, and as such, is subject to risks and uncertainties. Actual results may differ materially as a result from various important risk factors, including those discussed in our earnings press release and in our annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Forms 8-K. Please note that any forward-looking statements that are made on this call are based on assumptions as of today, and we undertake no obligation to update these statements as a result of new information

NEW YORK — World oil prices climbed sharply on Friday, with Brent crude topping $105 per barrel and WTI hovering near $97 as stalled U.S.-Iran ceasefire talks and persistent disruptions in the Strait of Hormuz kept markets on edge amid one of the most significant supply shocks in recent years.

As of late morning trading on April 24, 2026, Brent crude futures, the global benchmark, rose more than 1% to trade around $105.50-$106.14 per barrel. West Texas Intermediate crude gained similarly, settling near $96.50-$97.40. Both contracts have surged more than 50% year-over-year, reflecting heightened geopolitical risk premiums that have dominated trading for weeks.

The primary catalyst remains the effective closure or severe restriction of the Strait of Hormuz, through which roughly 20% of global oil supply normally flows. Ongoing military tensions, including threats to tanker movements and reported seizures, have dramatically reduced shipments. Analysts warn that even partial normalization could take weeks or months, keeping upward pressure on prices.

Standard Chartered and other banks now describe $95 per barrel as a potential new equilibrium level in the near term, with some forecasts calling for sustained highs even if flows resume partially. The price action has rippled through energy markets, lifting gasoline futures to multi-year highs and contributing to broader inflation concerns.

U.S. Energy Information Administration data and industry reports show global oil supply dropped sharply in March, with OPEC+ output falling dramatically due to infrastructure attacks and export constraints. Non-OPEC production also faced headwinds, amplifying the shortfall at a time when demand remains relatively resilient despite economic uncertainties.

The International Energy Agency revised its 2026 demand outlook downward in its April report, now projecting a slight contraction of 80,000 barrels per day on average. However, near-term tightness from the Hormuz disruptions overrides longer-term demand softness, supporting current elevated levels.

Traders monitored statements from U.S. officials indicating no immediate rush to finalize any Iran deal. President Trump’s comments that an agreement would come only “when it’s appropriate” added to uncertainty, preventing a meaningful pullback in risk premiums. Israel’s continued threats of further action in the region compounded the volatility.

On Wall Street, the energy sector outperformed as broader indices showed mixed results. Airline and consumer stocks faced pressure from higher fuel costs, while oil service companies and producers gained. The surge has also influenced currency markets, with the U.S. dollar strengthening against some emerging market currencies.

Refinery margins have expanded in key regions as product prices, particularly gasoline and diesel, climbed in tandem with crude. U.S. gasoline futures hit levels not seen in years, raising concerns about summer driving season costs for American consumers.

Longer-term forecasts vary widely. J.P. Morgan maintains a more bearish outlook for late 2026, projecting Brent averages near $60 if surpluses return after the current crisis eases. Others, including some IEA scenarios, see prices settling in the $75-$90 range by 2027 once supply chains normalize.

OPEC+ faces difficult decisions on production. The group has already seen significant output cuts forced by events rather than voluntary restraint. Any coordinated response could further influence prices, though internal dynamics and compliance issues complicate coordination.

U.S. shale producers have ramped up activity in response to higher prices, but regulatory and infrastructure constraints limit rapid response. Canadian and Brazilian output provides some offset, yet Middle East disruptions dominate the narrative.

Retail fuel prices in the United States have risen steadily, with national averages for regular gasoline approaching or exceeding $4 per gallon in many regions. Analysts warn that sustained high crude could add several cents weekly at the pump, potentially influencing consumer spending and Federal Reserve policy considerations.

Emerging markets, particularly those heavily dependent on imports like India and parts of Europe, face greater strain. Higher energy costs could exacerbate inflation and slow growth in vulnerable economies. China, the world’s largest importer, has shown mixed demand signals amid its own economic challenges.

Storage levels and tanker tracking data indicate inventory draws in key hubs, though official weekly U.S. EIA reports have shown occasional builds from strategic movements. Floating storage has increased as traders seek to capitalize on contango in futures curves.

Environmental groups and renewable advocates point to the crisis as underscoring the risks of oil dependence, calling for accelerated transition policies. Conversely, industry voices argue for increased domestic production and infrastructure investment to enhance energy security.

Technical analysts note Brent has broken key resistance levels, with momentum indicators suggesting potential for further upside if Hormuz tensions persist. Support sits around $100, with stronger floors near $90 if de-escalation news emerges. Options markets show elevated implied volatility, reflecting trader caution.

As markets digest the latest developments, attention turns to upcoming diplomatic efforts and weekly inventory data. Any credible progress toward reopening the strait could trigger a sharp reversal, while prolonged closure risks pushing prices toward $110-$120 territory seen earlier in the flare-up.

The current oil price environment serves as a stark reminder of geopolitics’ power over commodity markets. For consumers, businesses and policymakers worldwide, the coming weeks will test resilience as elevated energy costs filter through economies already navigating inflation, growth concerns and shifting alliances.

Whether this spike proves temporary or marks a new pricing regime depends heavily on resolution in the Persian Gulf. For now, the world’s most vital commodity trades at a significant premium, with ripple effects likely to influence everything from household budgets to global inflation trajectories in the months ahead.

NEW YORK — NYT Strands puzzle #782 on Friday, April 24, 2026, delivered a loud and lively challenge with the theme “Hullabaloo,” sending players on a hunt for noisy expressions that left many shouting in frustration or triumph as they uncovered the spangram “LETSGETLOUD.”

The New York Times’ word search-style game once again tested solvers’ vocabulary and pattern recognition with a grid full of boisterous terms. Players who cracked the theme early celebrated quick solves, while others needed multiple hints to wrangle the full set of loud vocal outbursts.

Today’s Theme: Hullabaloo The puzzle celebrated noisy commotion and vocal expressions, perfectly captured by the spangram “LETSGETLOUD.” This horizontal phrase invited players to think about raising their voices, whether at a concert, sports event or lively gathering.

Spangram: LETSGETLOUD The spangram, which uses every letter in the grid at least once, ran horizontally and served as the unifying thread. Finding it unlocked the theme and helped solvers spot the remaining words more easily. Many described the moment of discovery as satisfying after initial struggles with scattered letters.

Theme Words

• BELLOW
• CATERWAUL
• CLAMOR
• HOLLER
• SHOUT
• WHOOP

These six words all represent different ways to make loud noises, from the deep roar of a “bellow” to the shrill “caterwaul” often associated with cats in distress. “Clamor” suggests a chaotic outcry, while “holler,” “shout” and “whoop” capture enthusiastic or urgent vocalizations.

The puzzle’s design rewarded both strategic scanning and thematic thinking. Strong starters often looked for clusters of letters like “SHO” for SHOUT or “HOL” for HOLLER. The presence of less common words like CATERWAUL provided the right level of challenge for a Friday puzzle.

Strands, part of the growing NYT Games family alongside Wordle and Connections, continues gaining popularity for its unique blend of word search and category deduction. Players receive a grid of letters and must find themed words, with the spangram acting as a helpful anchor. Difficulty is calibrated daily, with weekends often featuring more accessible or cleverly punny themes.

Social media buzzed throughout the day as players shared their progress. On platforms like X and Reddit’s r/NYTStrands, users posted partial grids, celebrated rainbow solves, and commiserated over tricky letter placements. The “Hullabaloo” theme inspired plenty of playful reactions, with many joking about their own loud reactions to solving it.

For those who got stuck, gentle hints circulated widely. Early nudges pointed toward loud sounds or crowd reactions. More direct assistance revealed starting letters: BEL for BELLOW, CAT for CATERWAUL, and so on. The spangram hint about an invitation to increase volume proved especially useful.

Strategy experts recommend scanning the grid for common letter combinations first, then considering the theme once a few words emerge. On April 24, focusing on action-oriented verbs helped many break through. Avoiding random guessing preserved the three-mistake limit that keeps the game engaging without becoming punishing.

The puzzle’s educational appeal shines through in selections like CATERWAUL, which may have sent some players to the dictionary. Such words expand vocabularies while delivering that satisfying “aha” moment when connections click. Regular players note that daily practice improves both speed and intuition for letter patterns.

NYT Strands launched as part of the company’s effort to diversify its games portfolio. Like its siblings, it offers one puzzle per day with shareable results that spark friendly competition among friends and family. The absence of ads and straightforward interface contribute to its clean, addictive quality.

April 24’s edition fit neatly into a week of varied themes. Earlier puzzles had explored everything from textures to everyday objects, keeping the experience fresh. The loud and energetic “Hullabaloo” provided a fun contrast, especially as many solved it during morning commutes or coffee breaks.

Community forums offered post-solve discussions, alternative solving orders, and appreciation for the constructor’s clever grid arrangement. Some noted the satisfying density of vowels and consonants that allowed multiple overlapping words without excessive frustration.

For newcomers, Strands offers an accessible entry point to word games. The visual grid format feels familiar to traditional word searches, while the thematic requirement adds depth. Hints are available but using them reduces the sense of pure accomplishment for purists.

Looking ahead, tomorrow’s puzzle promises another intriguing challenge as the weekend approaches. Players can expect continued creativity from the NYT Games team, which carefully balances difficulty to maintain broad appeal across casual and hardcore solvers.

Whether you nailed #782 in record time or needed every hint, today’s Strands captured the spirit of joyful noise and collective excitement. The game continues to unite word lovers worldwide in a shared daily ritual that starts conversations, sharpens minds, and occasionally elicits actual whoops of victory.

As the letters fade for April 24, solvers can look forward to resetting the grid tomorrow. Until then, celebrate your solves, share your grids, and maybe even let out a triumphant shout — just like the theme encouraged. The hullabaloo around NYT Strands shows no signs of quieting down anytime soon.

Q1: 2026-04-23 Earnings Summary

EPS of $2.90 beats by $0.73

 | Revenue of $7.31B (45.85% Y/Y) beats by $741.70M

This article was written by

Operator

Good day, and thank you for standing by. Welcome to the PLS March Quarterly Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your first speaker today, Dale Henderson, Managing Director and CEO of PLS Group. Please go ahead.

Dale Henderson
MD, CEO & Executive Director

Good morning, and good evening. Thank you for joining us today. I’ll begin by acknowledging the traditional owners on the land on which PLS operates, the Whadjuk people of the Noongar Nation here in Perth, and the Nyamal and Kariyarra peoples in the Pilbara. We pay our respects to elders past and present.

I’m joined today by Flavio Garofalo, our Interim CFO; and Brett McFadgen, our Chief Operating Officer. Today, we are reporting a record quarter and a step change in financial performance. We will take you through the quarter and then allow time for questions.

Now before turning to the results, I’d like to frame what is happening in the lithium market. Lithium remains a young capital-intensive industry that is still scaling rapidly. Demand can move quickly, supply response more slowly and capital is cyclical. That combination means volatility